Current price:
#Bitcoin is currently around $116,435, which is about 5% less than its highest recorded price, which was around $123,000.
Important event:
July 9 was the deadline for the end of the 90-day freeze period imposed by President Trump on U.S. tariffs.
What happened after July 9?
Despite the end of the freeze period, tariffs were not applied directly. What happened is that the U.S. government allowed additional time for negotiations.
The actual implementation of the tariffs may occur in early August if no agreement is reached. This unofficial delay allowed the market to breathe and increased investors' appetite to buy Bitcoin.
If there is a second delay, the markets will interpret it as the government being hesitant to implement decisions, and this enhances investors' appetite to take more risks – and here comes another push for Bitcoin.
What is the current market situation?
- Bitcoin is above $116K
- Gained over $50 billion in just 24 hours!
- And if the economic data is good on Tuesday, the market will continue its surge.
What should we do as traders?
- Follow the news about tariffs and their postponement.
- Monitor Elon Musk's tweets, as his influence is still strong in the market.
- If there is a temporary drop, it could be a buying opportunity before (Crypto Week) this week in Washington.
What should we do as investors?
- If you are a buyer:
Don’t sell in haste. The market is volatile, but there are political and economic news that could push it up, so be patient and watch. Set clear exit points. Determine a specific price that if the currency reaches, you start to partially exit to secure your profits. Follow the developments day by day. Especially this week (Crypto Week), votes could change the market direction.
If not a buyer:
Keep an eye on Bitcoin. If it breaks the highest price again, a new surge in the market may begin. Start with a small amount. The market can drop suddenly, so don't invest all your capital in one go.
Important point:
If the Fed hints at a rate cut, everyone will rush to Bitcoin and Ethereum to escape inflation. And of course, liquidity gradually shifts to alternative currencies.
#USCryptoWeek #StrategyBTCPurchase #ETHBreaks3k #TradingStrategyMistakes #ShariaEarn